Activity in China's key manufacturing sector recovered strongly in August, a preliminary survey of
factory managers showed on Thursday, helped by a rebound in new orders.
The HSBC flash manufacturing Purchasing Managers Index (PMI) hit a four-month high of 50.1 in the
month from a final reading of 47.7 in July, moving above the 50 threshold that demarcates expansion
of activity from contraction.
"China's manufacturing growth has started to stabilize on the back of modest improvements of new
business and output. This is mainly driven by the initial filtering through of recent fine-tuning measures
and companies' restocking activities, despite the continuous external weakness," Hongbin Qu, chief
economist, China & co-head of Asian Economic Research at HSBC said.
"We expect further filtering-through, which is likely to deliver some upside surprises to China's growth
in the coming months," he added.
The improvement in HSBC's manufacturing survey – which is weighted towards small and mediumsized companies – follows a surprise rebound in the official PMI reading in July.
The official PMI, which focuses on larger and state-owned factories, rose to 50.3 in July from 50.1 in
June, beating market expectations of 49.9.
Economic indicators released in the recent weeks including better-than-expected July industrial
production and trade data point to a stabilization in the world's second largest economy.
According to research firm Capital Economics, "low-profile" indicators for July such as electricity output
– a gauge of activity in heavy industry – and volume of freight being transported around the country
add to evidence of the economy gaining some momentum. Power output rose to a record high 8.1
percent in July from a year ago.
(Read More: China data blitz points to stabilizing economy)
"The latest data add to evidence that the economy is picking up some steam," the firm wrote in a note Wednesday.
Sentiment: Strong Buy
LVS was just upgraded by UA (underground stock alerts- google them ) to a BUY with a new price target of 43 that’s HUGE. i’m subscribed to UA’s free newsletter, their subscriber base is huge, the last time they alerted a buy the stock ended up going up 1350% in a very short period, no way this will happen with LVS but it’s still very positive. i’ve made over $200k with their free alerts so far so it’s definitely not something to sneeze at.
A while back I suggested someone should set up a message board on that "other platform" that shall remain nameless (since it tends to make my posts disappear)... since then, the situation here has become dire. As I see it, the fundamental problem is that YMB has no protocol for dealing with disruptive posters. There are other issues as well, but for one person to hijack the board with no recourse by the other members is just nuts.
Since no one else has taken the initiative to create a tenable alternative board, I went ahead and set one up on that "other" platform. They actually have several domains, and last I checked it was still possible to just enter the actual address of one of the alternative domain-hosted systems, so lets try it:
The board needs to be "seeded", so anyone who'd like to discuss LVS in a moderated environment (where the purpose of moderation is to eliminate spam and disruptive posters, not censor pro/con views on LVS), please give it a look-see. Contributions to the "Resource Center" sub-forum would be appreciated: links to good sources of info about the company.
I even set up a "Politics" forum so spok can have some place to vent about Obama---because I sure as heck won't allow that (or any politics) on the main LVS discussion board.
As for now, I'm the only active staff member, but I really do not want it to remain that way. If you've been a regular here and would like to be a mod, please PM me over there (you can PM me as 'admin') and we can discuss it.
The best part: Tony will only get one chance (per IP address, lol) to wreak havoc on that board... ;-)
Having been raised in a Chinese brothel as a child has had a damaging effect on Tony Teoh Ho sense of self worth. His sense of inferiority inspires him to compulsively spew filth using identities like "Mao Tse Dung", "Obama Hussein", "Uncle Ho", "Chairman Mao" etc.. & etc.. surprised he hasn´t used Kaddafi, Hitler, Ahmadinejad, Arafat, or Chavez yet.
Here are some of the things I'm watching:
It was anticipated that the cotai strip sky bridge was to be completed by today, linking Venetian to Cotai Central via an air-conditioned walkway.
HSBC announced it's monthly PMI report for China manufacturing today... it read 51.5 I believe, which was the highest reading in over a year and a half stretching back to spring of 2011.
In November, advance airline reservations for the holidays were up 50% over 2011 and I assume a lot of that might be going to Vegas. Last week, we learned that holiday spending "tailed off" late in the shopping season, but it appears that holiday travel was still fairly robust.
The Junket-related VIP rooms in Venetian we're supposed to have their renovations complete by today. These were very extensive improvements that were attracting new, higher-end, junket aggregators and costing upwards of $150 million across the macau facilities. Q3 results were hurt by the fact that many of these suites were still out of operation at that time due to the construction involved.
Phase 3 of Cotai central is set to open in late January with 2,000 more hotel rooms and a ton of ancillary attractions. This will be the last new capacity to be opened in Macau until 2015, when Galaxy phase 2 is scheduled to be complete.
The 2013 allocation of new gaming tables should be awarded by march 1st and Sands is widely anticipated to get between 150 and 200 new tables pursuant to the legal ceiling not accomodating Cotai central's needs last September.
The new high-speed train from Beijing will be operational in January. Since train arrivals are primarily Mass market and since Sand's leads Macau in mass market share, this is a bigger deal for Sands than it is for any other macau concessionaire.
Most december channel-checks are indicating upward revisions in macau gaming revenues for december with mid-teens expected. This is material given that YOY comparisons to last december aren't that easy as december 2012 was up almost 25% over december of 2011.
The new government in China is re-asserting a pro-growth agenda that folks are estimating 2013 GDP to surge from the 7.4% we saw in Q3 to around 8.5 to 8.6% in 2013. China is also making it easier to get Visas to visit Macau by allowing folks to apply for them right at work instead of having to go to official locales to get them.
Ron Reese mentioned that MICE event scheduling for Venetian macau is strengthening with prospects that specifically inquire about the availability of hotel rooms. He also indicated that many MICE attendees who used to be housed off-strip are now able to stay (and play) on center strip while attending MICE events.
There were indications that many of the bad-debt reserves being booked at Marina Bay Sands were being goosed in Q2 and Q3 as a "pile on" to what essentially became "throw-away" quarters. Getting those reserves in place at that time allows LVS to keep them lower in 2013... and potentially even reverse them if collections improve with the region's economy(s).
Q3 was impacted heavily by Cotai Central's poor earnings, which were very much due to the fact that they were offsetting only C.C. phase 1's revenues with expenses relating to both phase 1 and a lot of pre-opening expenses for phase 2. In fact, it appeared that since Q3 was being dubbed a "throw-away" quarter, that many phase 2 costs that "could" have been capitalized were being expensed in Q3 just to keep them off the books and keep depreciation expenses lower in subsequent quarters. With phase 2 now open, new tables coming, and phase 3 complete next month, look for 2013 to be free of any of these financial encumbrances.
GLTA in the new year!
Each business day, I, like a lot of you, check the news for companies. LVS is near the top of the list for me.
When I check this board for anything that might augment what I've read, I scan first for posts by blitz. The reason is because he mostly posts good news stories that pertain to what impacts LVS... and more than 50% of them are news items that I havn't necessarily seen because they are not "LVS-Specific", but less specific and more foundational to the environment that LVS operates in. To me, THAT is almost as important as the LVS specific pieces themselves.
So, I just wanted to tip my hat to the work blitz does here. If there was ever a positive counter-balance on a board like this to the garbage that somebody like tony puts out here... blitz is that counterbalance.
Sheldon Adelson began life as a poor, taxi-driver's son. Adelson spent his entire life working hard and taking big business risks. He went from rags to riches many, many times and has paid the government $Billions in taxes all along the way to become what he has become.
Mr. Obama joked about how Michelle Obama might have gladly taken the $100 million Adelson spent to prevent another 4 years of Obama's anti-business, socialist ideology...
... well, that was NO JOKE... everything the Obama's ever achieved in life has effectively HANDED to them. The Obama's have never run a business, met a payroll, or suffered an investment loss in their entire lives. They have no idea what it takes to accomplish what Sheldon Adelson has accomplished. Obama's sole achievement that comprises the sum total of his credentials to run our country is his role as a community organizer...
... that's IT.
And now here we are, printing $Trillions of money and running $Trillions in deficits and what does it get us?
No jobs and no growth, that's what it gets us... because Obama has NO IDEA what it takes to run a successful government... and he's spent 4 years sending us hurtling toward bankruptcty to prove it.
The overall survey at Rasmussen shows approval at 46% and disapproval of the president at 53%. That's the worst showing since july 8th. Over 2 days, the "strongly dis-approve" beats the "strongly approve" poll by 16 and 17 percentage points respectively... the worst showing since July 11th and 12th.
I believe the reason is because of the President's new demands for more spending and more taxes, whereas 62% of americans surveyed think that government spending should be reduced. His inflexability appears to be setting the stage for more gridlock, and probably growth that will remain under 2% GDP...
... which, over the past 4 years, has been the slowest, post-recession growth rate since World War 2.
Fortunately, Macau's gaming industry is not in the U.S.
Is this guy bad or what. Look at the investigations going on: (1) ObamaHealthCareGate - this one is really heating up and is a complete disaster; (2) FAST & FURIOUS that left 1 American dead; (3) IRS - so many people targeted by this President unnecessarily and ILLEGALLY; (4) NSA intrusion in ALL our privacy; (5) Justice Targeting; (6) Sequester; (7) Solydra; (8) AND last buy not least BENGAZI that left 4 Americans DEAD.
Should I add the wreckless spending that now has amounted to $ 17 TRILLION in debt. What about the upcoming GENERATIONS that will be saddled with all this debt. But the OBAMA HEALTHCARE will really get everyone's attention (INCLUDING THOSE NUTTY OBAMA VOTERS) because HEALTH CARE premiums, deductibles, and co-pays will SOAR (providing you even HAVE health insurance). THIS GUY WILL GO DOWN AS THE WORST PRESIDENT IN OUR GREAT HISTORY - the WORST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And history will NOT be kind to this 'I DON'T KNOW ANYTHING' ABOUT THAT' President!!!!!!!!!!!!!!!!!!!!!!!!!!
LAS VEGAS, NV -- (Marketwire) -- 03/03/13 -- Las Vegas Sands Corp. (NYSE: LVS) today fired back at various media headlines and press reports that have suggested that the company violated any of the anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA).
The company did not report any violations of the anti-bribery provisions of the FCPA and it said news reports stating otherwise, such as the headline in today's New York Times which described the matter by saying "Casino Says it Likely Cheated," are both inflammatory and defamatory. The company said it will vigorously defend itself against that type of uninformed and misleading reporting.
In the company's 10-K disclosure filed with the Securities and Exchange Commission (SEC) last Friday it made no such statement and insists no violations of the anti-bribery provisions of the FCPA have occurred. Instead, the company said that in its preliminary findings the company's Audit Committee had advised that there were "likely violations" of the books and records and internal controls provisions (i.e. "accounting provisions") of the FCPA. A potential violation of the accounting provisions could range anywhere from a single transaction recorded incorrectly to other errors in the accounting records.
Additionally, the company's independent auditors -- who have been auditing the company for more than a decade -- issued an unqualified opinion on the financial statements for the year ended December 31, 2012. Those financial statements also included the disclosure that any violations of the accounting provisions have not had a material impact on the financial statements of the company and did not warrant any restatement of its past financial statements.
About Las Vegas Sands
Las Vegas Sands (NYSE: LVS) is a Fortune 500 company and the leading global developer of destination properties (Integrated Resorts) that feature premium accommodations, world-class gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and many other amenities.
The Venetian® and The Palazzo®, Five-Diamond luxury resorts on the Las Vegas Strip, and Sands® Bethlehem in Eastern Pennsylvania are the company's properties in the United States. Marina Bay Sands® is the company's iconic Integrated Resort in Singapore's downtown Marina Bay district.
Through its majority-owned subsidiary Sands China Ltd., the company owns a portfolio of properties on Macao's Cotai Strip®, including The Venetian® Macao, Four Seasons Hotel Macao, and Sands Cotai Central. The company also owns the Sands® Macao on the Macao Peninsula.
Las Vegas Sands is committed to global sustainability through its Sands ECO360 degrees program and is an active community partner through its various charitable organizations.
According to Yahoo the Low estimate for earnings is for 52 cents, high estimate is 70 cents and avg estimate is for 58 cents.
Year ago EPS was 57 cents.
Numbers for Macau only. Taking into account total Macau Gaming Revenue and Sands China Market share to determine Sands Share of the Gaming Revenue.
Month ... Gaming Rev (MOP) ... Sands Share % ... Sands China Rev ... QTR
Oct-2011 ....... 26,851 ................... 14.0% ................. 3,759.14
Nov-2011 ....... 23,058 ................... 16.0% ................. 3,689.28
Dec-2011 ....... 23,608 ................... 16.0% ................. 3,777.28 ....... 11,225.70
Month ... Gaming Rev (MOP) ... Sands Share % ... Sands China Rev ... QTR
Oct-2012 ....... 27,700 ................... 20.9% ................. 5,789.30
Nov-2012 ....... 24,882 ................... 20.8% ................. 5,175.46
Dec-2012 ....... 28,245 ................... 21.0% ................. 5,931.45 ....... 16,896.21
From this we can determine Sands Q4 2011 Gaming Revenue was approx MOP 11,225 and in Q4 2012 it was approx MOP 16,896
That is an increase of 50% in gaming revenue in Macau for Sands China over Q4 last year.
Sentiment: Strong Buy
Turnout was relatively low today because Las Vegas weather was especially ugly this morning. But the conduct of the trial couldn't have gone much better for the home team. Before the jury entered the courtroom the attorneys for both sides agreed not to mention today's Reuters news about Beijing's "No Interference with Macau and Hong Kong" policy, but SA's attorney reserved the right to bring it up at a later date. By 11:30 SA was done with his testimony in response to attorney questions; then the judge allowed the jurors to submit questions in writing which, if appropriate, would be posed by the judge to SA. First question...Do you think Mr. Suen deserves any compensation at all for introducing LVS to Macau?...Short answer..."No. I didn't know much about Macau back in 2000 (which was before I became heavily involved in the casino biz) but I had some very bright guys working for me who were very up-to-date on gaming in Macau. As rumors grew louder that Stanley Ho's monopoly in Macau was about to end, my guys started paying more and more attention to it. We would have pursued Macau without Mr. Suen. The only reason I dealt with Mr. Suen at all was as a favor to my brother Lenny who kept insisting that I meet his friend Richard who had all the connections necessary to deliver a gaming license to LVS...of course that turned out not to be true...we ended up having to compete with other companies for what turned out to be a sub-concession with Galaxy, and Richard had no part in that."
BofA/Merrill Lynch today maintained a Buy rating on Las VegasSands (NYSE: LVS) with a price target of $66.00. Analyst Shaun Kelley sees upside as high as $82/share. He noted the company was under levered relative to its peers and could add 2x in debt over the next 18 months while maintaining favorable rates.
Las Vegas Sands could buyback 20% of its shares at $60-65. Additionally, spinning off malls in Asia could create value for shareholders, thinks Kelley.
If you are searching for details on the subject of the stock market, then you ought to take a look at this. xcellonline[dot]biz/--LVS
Hint :- Remove Dot
Sentiment: Strong Buy
Attended all day. As OH88 stated previously, there are (were) 15 jurors. I assume 12+3 alternates. One dismissed this morning for personal reasons. One other had conference with judge and counsels at end of day (5pm), also to discuss emergency release, again for personal reasons.
Wow, great day for LVS. Plaintiffs direct of Weidner (W) ended at 12:15pm. They made no progress for Suens case, IMO, as W repeatedly stated that Suen "didnt deliver any of the things he said he could; a license without competing, and an equity partner" for LVS. Remember, this was going on during 2001 summer and Fall and W said LVS just didnt have the cash at that time to make a strong presentation. So having a strong equity partner with the perceived cash to put up in their bid ($500 M), plus help in securing the contacts to be seriously considered by Macau for one of three licenses, was appealing to SA, W and LVS. So, W dealt with Suen as he made all these assertions that he could deliver. W said Suen just could never deliver what he promised.
At 2pm afternoon session, defense atty Robbins began. He systematically had W answer questions in a staightforward manner which was crushing to Suens case. Plaintiffs lead atty was flustered and maybe made 5 or 6 objections in 10 minutes. All were overruled. Suen came off looking like an insignificant businessman as Robbins repeatedly had an exchange like this with W: So, did Mr. Suen ever introduce you to the equity partner he told you he lined up?...No....Did he mention them by name?.....No.....Did he say how much cash they were bringing to the table?.....No. This happened like this 2 or 3 times after examing various correspondence on the overhead projector screen. Really made Suen look bad and several jurors couldnt resist smirking with the repeated series of rapid fire "No!"s. Robbins even put up various docs where Suen threatened to take his services "..to your competitors.." if LVS didnt start establishing certain budgetary items (part 1)
1. If sending the non-essential US government workers home today amounts to savings of $800 billion a year in government spending, and the current deficit is running about $650 billion...
... then does that mean that we are running a government SURPLUS now, and that the debt ceiling will never be breached if nothing changes?
2. If the government workers that they are sending home are deemed "non-essential"...
... then, why did we ever hire them in the first place?
Food for thought as we mull over the gigantic increases in our health insurance premiums.
... the populist masses will overwhelm the "saner patriots" for as long as it takes to drown us in a sea of debt and an ocean of paper money.
I want desparately for our kids to look back 20 years from now and salute the "saner patriots" that you refer to...
... but our rush to socialism and bankruptcy is accelerating, not decelerating, my friend... and the words of responsibility are being lost in the white house's chorus that the bottom 70% can have it all whether they work for it or not.
It's been less than a month since Obama hammered the job creators and extended jobless benefits yet again... yet another acceleration toward capital flight and lethargy that most americans are happy to let happen.
Macau GGR market share in February 2013
3/5/2013 from Macau Business Daily
– according to figures supplied by the Lusa news agency –
SJM Holdings Ltd 25.5 pct
Sands China Ltd 21.5 pct
Galaxy Entertainment Group Ltd 18.6 pct
Melco Crown Entertainment Ltd 12.5 pct
Wynn Macau Ltd 11.5 pct
MGM China Holdings Ltd 10.1 pct.
Note, I hate Lusa with a passion and from the more reputable analyst estimates I'm seeing, LVS February 2013 market share is 21.4 %. So, we have a 100 basis point market share increase from January to February 2013 per the reputable estimates and 110 basis point increase if you care to believe Lusa.
So, let's see, February 2013 GGR was $3.4 billion and 1% of that is $34. Not a bad incremental improvement, but our total share is $727.6 million, that's a lot of chips!
Sentiment: Strong Buy